Saturday, November 29, 2008
Didn't catch this last month. Forbes puts the value of the Penguins at $195 million. Which leads to some funny thoughts. When all is said and done I bet the all-in price for the new arena will be twice that. If someone was worried about keeping the Penguins in town, would it have been cheaper to just send a check to buy the team whole. Yeah, I know, that probably isn't premitted by the NHL or legal in some way, but would it have been cheaper? Forbes also lists as a side note that Penguins owner Ron Burkle's net worth is $3.5 billion. So Burkle's stake in the team can't be worth more than 5% of his total assets.